Zurich Insurance ups ‘impact investment’ target to $5 billion

Switzerland’s Zurich Insurance plans to more than double its “impact investments” to $5 billion, it said on Thursday, aiming to improve the lives of five million people a year.

The target forms part of a move by insurers to tackle the causes of climate change and other social issues for which they often pick up the bill, including healthcare costs associated with tobacco use.

Unlike other forms of sustainable or responsible investing, impact investments have a focus on measuring their effects against a set of pre-determined goals.

Johanna Koeb, head of responsible investment at Zurich, said the firm only made impact investments that offered returns in line with broader markets.